Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 0.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,708,215 shares of the software maker's stock after purchasing an additional 5,658 shares during the period. Vanguard Group Inc. owned approximately 11.05% of Manhattan Associates worth $1,160,790,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. increased its position in Manhattan Associates by 87.8% during the 1st quarter. iA Global Asset Management Inc. now owns 2,239 shares of the software maker's stock worth $387,000 after purchasing an additional 1,047 shares during the period. Argent Trust Co grew its holdings in Manhattan Associates by 92.3% during the first quarter. Argent Trust Co now owns 3,475 shares of the software maker's stock worth $601,000 after acquiring an additional 1,668 shares during the period. J. Safra Sarasin Holding AG raised its position in Manhattan Associates by 24.3% in the first quarter. J. Safra Sarasin Holding AG now owns 4,837 shares of the software maker's stock worth $837,000 after acquiring an additional 945 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Manhattan Associates by 2,599.2% during the 1st quarter. Bank of Nova Scotia now owns 58,167 shares of the software maker's stock worth $10,065,000 after purchasing an additional 56,012 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Manhattan Associates by 95.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,691 shares of the software maker's stock worth $1,504,000 after purchasing an additional 4,247 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on MANH. Robert W. Baird raised their price objective on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their target price for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. DA Davidson boosted their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Raymond James Financial raised their price objective on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Loop Capital lifted their price objective on Manhattan Associates from $170.00 to $200.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $216.67.

Insiders Place Their Bets

In other Manhattan Associates news, Director Linda T. Hollembaek sold 2,024 shares of Manhattan Associates stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the transaction, the director owned 11,907 shares in the company, valued at $2,637,757.71. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total value of $8,296,645.56. Following the sale, the chairman directly owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. This trade represents a 18.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,666 shares of company stock valued at $9,251,781 in the last quarter. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Stock Up 3.7%

Shares of MANH traded up $7.50 during mid-day trading on Tuesday, reaching $212.75. 480,987 shares of the company's stock were exchanged, compared to its average volume of 668,647. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The company has a 50-day simple moving average of $201.98 and a two-hundred day simple moving average of $188.35. The company has a market cap of $12.86 billion, a price-to-earnings ratio of 59.43 and a beta of 1.10.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.19. The company had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 EPS. As a group, equities research analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.